David A. Paterson

Governor

A Jobs Plan for thePeople of New York

BOLD STEPS

TO THE

NEW ECONOMY:

What the New Economy Means for thePeople of New York

By Governor David A. PatersonThe economy New York has dominated for the past hundredyears is rapidly transforming. We cannot continue to rely ona few juggernauts for economic growth. A New Economy isemerging – based on knowledge, technology, andinnovation.What will this New Economy mean for the people of NewYork? If we capitalize on our advantages, it will mean lowercosts and better jobs.For every job created in the innovation sector, 3.5 additional jobs are created in the overall economy. Whether you work at a construction site or in a laboratory –you can benefit fromthe New Economy.But it won’t be easy. Taking our place at the head of theNew Economy will require us to break with the status quoand take bold steps forward.We must start by creating a fertile environment forentrepreneurship and building a new infrastructure forinnovation.We must make New York a more affordable place to dobusiness. We need to cap state spending, control propertytaxes, and reduce pension costs – and I will continue fightingfor these reforms.We also need to recognize that if our state is to succeed,minority and women-owned businesses must have theopportunity to compete on a level playing field. We need toprovide hope and opportunity to all our young people whoaspire to own their own businesses.